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NordhillCapital.com

Discussion in 'Has anyone heard of?' started by Marcelo Rosa, Dec 30, 2015.

  1. Peter1124

    Peter1124 Private, 1st Class

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    Honestly, this seems as if it's a valid closure, but there's still no proof and evidence of the bank account being frozen as the money was so called still trading on the LP side.
    Why would you send back the money to a so-called frozen bank account? If you can by other means return back to the client through other valid channel and liquidation method.
    If you understand brokerage business, money is not kept at the bank when a client deposited because some margin is required on the prime broker or LP side for the trading facility, so even if the former bank account is closed or frozen, the money can still be recovered as long it's there.

    And stop the blatant that SFX is a financial institution when it's only a simple IBC registered in SVG which cost merely $1200 USD max. It is not an entity that required regulations at all, it's just a normal company. It is not a regulated entity by any regulator or financial authority, and the bank account is only a standard corporate bank account at most.

    Seems like, it's just a closure to stop the IBs and Investors from harassing them while giving them a glimpse of hope, and this could drag on forever, and by 1-2 years time the said company has long not renewed itself in SVG already and no beneficiary owners can be traced...



     
  2. lukeneves

    lukeneves Recruit

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    Hi folks,

    It seems I'm on the same boat as you. Have money on the SFX platform (on my personal account) with only the withdrawal option available to me.

    I've read through all the threads and I have a couple of questions regarding what my approach should be:
    1. Leave the money on the personal account so at least it is visible (if I need to show evidence of some sort)?
    2. Try the withdrawal which I know it will be stuck in processing (forever?)
    3. File a complaint on mychargeback.com/?
    4. Already filed a complaint with Estonian police, that will go nowhere but at least there is an official complaint filed somewhere.

    Thanks for your input!
     
  3. Peter1124

    Peter1124 Private, 1st Class

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    Investors priorities are as follows:

    1) Lodge a police report locally and with Estonian Police for an official complaint about your funds being held up by SFX or its Bank.

    2) Using (1), your objective is to get enough power and interests to verify and validate that the bank account of your money is indeed frozen for AML checks and audits, as long it is a real and verifiable operation of such incident in the banking system, there's still hope of retrieving back your money, but note that SFX is not regulated, thus the account is a company bank account which is not segregated at all, because there's no transparency and means of validating it as segregated account, it's also likely even if there's money left, the amount will not be full, this means the company will have to be liquidated and huge process in order for clients to get back their money, because it's very hard to proof how much you have deposited, earned and how much you should be able to withdraw out as SFX itself do not do auditing on its PNL, to verify your earnings from trading programs. So this can be a very very long process even if it's real as most FX companies lied about their nature of business during account opening, as these days banks do not open account with non-regulated brokers due to high risks involved.

    3) If you used a credit card, you may attempt to use charge-back but the possibility of getting back is very very slim as well if you had done this investment a long time ago.

    4) There's no money, it's only credits data on the back end, which can be put up by the web/mt4 manager placing withdrawal/deposits into the CRM.

    What matters is to verify and validate the bank account is indeed frozen by tallin business bank, and get an official letter from it, if not it will be another case of GCG Asia incident, where bank may already been closed and money were already withdrawn. And SFX Markets/SFX Global is very likely not renewing itself very soon, and once the company no longer exists, the bank's monies will also be lost forever, same goes for their website renewal date which is very near.

    It's a scam until proven otherwise, as there were lack of official evidences and documents, with both Beneficial owners of nordhill/sfx markets hiding behind the screens, and their marketing IBs pushing away the responsibilities to SFX which is likely going to disappear very soon.
     
  4. FmrBrokerExecutive

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    What a very foolish and childish statement.

    SFX is a typical offshore Caribbean (St Vincent and the Grenadines) brokerage.
    They provide the 400:1 leverage many retail clients yearn for, and Nordhill Capital provides/provided the aggressive double-digit monthly returns.

    In the current banking climate, it is VERY DIFFICULT for offshore brokers (St Vincent, Vanuatu, Marshall Islands, Estonia, Labuan, Seychelles, among others) to obtain any type of banking license.
    Most of them have therefore been forced to use EMI (Electronic Money Institutions) which provide an IBAN somewhere like Lithuania or the Czech Republic most typically.

    The notice on https://www.sfx-markets.com/ is honestly more than many regulated brands have done when going into liquidation.
    (Meaning, they still allow deposits by credit card, Crypto, etc while client funds are frozen / they cannot process outgoing bank withdrawals.

    If you don't want to trade with a brokerage like this, then there are literally 100 UK/EU/US/AU regulated firms you can choose from. But if you do trade with a 400:1, it's ridiculous to not accept that this type of issue may occur. It is literally the exact same as investing in an offshore casino. Nothing wrong with either, but don't expect to receive the same level of regulatory protections from a conservative onshore brokerage!

    Happy trading.
     
  5. FmrBrokerExecutive

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    I will say however, it is definitely reasonable to request PROOF from SFX Markets of the frozen funds with whomever their bank/EMI is.
     
  6. ScammerMayCry

    ScammerMayCry Recruit

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    If your statement is defending that they are unlikely a scam, then why are they expelled from FCA? Why are they not paying withdrawals since october 2018? Why are they not accepting the invite from FPA for forum discussion? Why are they stating that they are regulated by svgsfa when sfa of svg stated that they do not regulate forex. Why did they need to use other broker licenses in UK that FC complaindd that they were trying to fraud consumers? To date, SFX is a scam and time has proven that. Do u know how much money is involved and how many lives are in trouble over these monies.
     
  7. FmrBrokerExecutive

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    I have nothing to do with this broker first of all but -

    1. Brokers don't typically participate on forums because once they open that door, it never closes.
    2. SFX is registered in St Vincent. How were they expelled in the UK/FCA?
    3. The issues with Tallinex, SFX, and many other offshore brands due to bank wire restrictions is not new (as you said, October 2018) and I agree they should provide proof of frozen funds - but to scream "Scam!" is also ridiculous. They could have easy disappeared and not be posting on their website.
     
  8. ScammerMayCry

    ScammerMayCry Recruit

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    Maybe tell us if sfx markets is owned by the folks indicated in this link. This is one of the only few pictures of the people behind sfx markets. News source indicated it’s an Asian company.

    http://www.profi-forex.us/news/entry4000007462.html
     
  9. FmrBrokerExecutive

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    I have seen their sales team at conferences before in Asia, never in Europe however.
    And I do believe they are an Asian firm but I don't know them.
     

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